Oxygen Biotherapeutics announces CRADA Agreement amendment

Sep 20 2010

Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) (SIX Swiss Exchange:OXBT) today announced it has amended an existing Cooperative Research and Development Agreement (CRADA) with the U.S. Naval Medical Research Center (NMRC) to include preclinical trials using swine models to assess the safety and efficacy of Oxygen Biotherapeutics' proprietary Oxycyte^® perfluorocarbon emulsion (PFCE) for spinal cord injury (SCI) due to decompression sickness (DCS), and for hemorrhagic shock.

The protocol for the spinal cord injury trial will measure safety and efficacy of Oxycyte in conjunction with recompression therapy. The hemorrhagic shock protocol will look at using Oxycyte for preservation of systemic oxygenation in large porcine models.

"We are pleased that the Navy broadened the existing CRADA to include additional indications for its preclinical studies with Oxycyte," said Chris Stern, Chairman and Chief Executive Officer of Oxygen Biotherapeutics. "If studies show that Oxycyte safely and effectively carries oxygen to deprived organs quickly and, in the case of decompression sickness, removes dangerous levels of nitrogen from tissues, it may improve emergency medical responses to soldiers and civilians facing traumatic injuries."